Apple is totally revamping its most famous store and will move into the old FAO Schwarz in the meantime

Flickr/lovatiApple is planning to revamp its flagship retail store on 5th Ave. in New York City, a source familiar with the matter told Business Insider.

Angela Ahrendts, Apple's senior vice president of retail, also told the AP that the company plans to renovate 20 of its stores in the US, including the 5th Ave. Store, and that these locations will likely double in size.

The Fifth Ave. store will move into the current F.A.O Schwarz space temporarily during the renovation period.

It's unclear when the renovations will take place, but one employee said that it could happen in the fall, although this person didn't have direct knowledge of Apple's talks. It will probably take until September for Apple to get set up in the F.A.O Schwarz space since the iconic toy store closes on July 15, this person said.

The expansion is much needed, according to one employee, who said there isn't much space for employees to take breaks when they're not working on the floor.

Apple didn't offer further information on its renovation plans when reached for comment.